Temple & Webster to ride sales spike with $40 million placement

Temple & Webster to ride sales spike with $40 million placement

Online furniture retailer Temple & Webster (ASX: TPW) will raise $40 million to capitalise on strong sales growth in June. Proceeds of the placement will be deployed towards strategic growth initiatives to take advantage of a consumer shift to online shopping that has been accelerated by the COVID-19 pandemic. Further, the company...

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AAP Newswire sold to consortium of investors and philanthropists

AAP Newswire sold to consortium of investors and philanthropists

Australian Associated Press has confirmed the sale of AAP Newswire and AAP FactCheck to a consortium including investor Nick Harrington and philanthropist John McKinnon. Under the new owners a refreshed Newswire, which will retain the AAP name, will launch on 1 August. AAP's current shareholders, including Nine and News Corporatio...

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Amazon Australia to construct robotic fulfilment centre in Sydney's West

Amazon Australia to construct robotic fulfilment centre in Sydney's West

Amazon Australia has announced plans to open its first Amazon Robotics fulfilment centre at the Oakdale West Industrial Estate in Western Sydney, targeted for completion by late 2021. The state-of-the-art distribution centre is the latest landmark development for Brickworks (ASX: BKW) and Goodman Group's (ASX: GMG) joint venture at th...

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Keybridge launches takeover bid for RNY Property Trust

Keybridge launches takeover bid for RNY Property Trust

Nicholas Bolton-helmed Keybridge Capital (ASX: KBC) has launched a bid to take over the entirety of RNY Property Trust (ASX: RNY), a property fund with a connection to Aurora Funds Management. The bid sees Keybridge offer 0.16 KBC shares per each RNY unit on issue. At today's KBC trading price of $0.071 the offer values the transactio...

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ASIC won't take action after RFG investigation

ASIC won't take action after RFG investigation

The Australian Securities and Investments Commission (ASIC) has notified Retail Food Group (ASX: RFG) it will not be taking any enforcement action in relation to two concluded investigations of the franchise operator. RFG shares are up 5.88 per cent this morning at $0.072 following the news, but a note from RFG clarifies no inference shou...

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Virgin shareholders will not see a cent from sale of airline

Virgin shareholders will not see a cent from sale of airline

Administrators of airline Virgin Australia (ASX: VAH) have clarified that shareholders will not receive any distribution for their shares once the sale to Bain Capital is completed. Further, administrators Deloitte have said that they do not expect there will be sufficient recoveries to repay creditors in full. "We declare that w...

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MyFiziq's expansion, NASDAQ listing plans set to boost FY21 revenues

MyFiziq's expansion, NASDAQ listing plans set to boost FY21 revenues

The following article is sponsored content in partnership with MyFiziq. Business News Australia does not give financial advice. An end-of-year update released by body measurement technology company MyFiziq (ASX: MYQ) today lays strong foundations for FY21, with agreements in place for its products and a US listing on the horizon. ...

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SeaLink secures Brisbane CityCat contract

SeaLink secures Brisbane CityCat contract

Adelaide-based transport service provider SeaLink has been appointed as the new operator of Brisbane City Council's CityCat ferry network. Operating locally as RiverCity Ferries, the contract is for the operation of the Brisbane River ferry services including CityCat, CityHopper and Cross River Ferry, as well as the maintenance of the...

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Servcorp cuts US footprint in half, closes 12 offices

Servcorp cuts US footprint in half, closes 12 offices

Serviced offices provider Servcorp (ASX: SRV) has finally bit the bullet with its underperforming US business with a major reorganisation announced today. The company will close 12 locations including some of the country's largest cities and leading startup hubs, leaving only 10 remaining offices for its US footprint. The location...

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Two Kaufland properties sold to Woolworths, Aventus

Two Kaufland properties sold to Woolworths, Aventus

ASX-listed companies are picking up some of the first pieces from the surprise exit of German retailer Kaufland earlier this year, with two of the group's nine sites now sold. Schwarz Group-owned Kaufland reportedly spent $500 million on its now abandoned Australian foray, but a small percentage of that has been regained through the s...

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Virgin likely to stay based in Queensland

Virgin likely to stay based in Queensland

Virgin Australia's (ASX: VAH) HQ is likely to remain in Brisbane following the confirmation that Bain Capital has been named as the successful bidder for the ailing airline. Speaking to the press this afternoon Queensland Treasurer Cameron Dick celebrated the news Virgin had found a new owner, indicating it was quite likely the airlin...

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Bain Capital selected as successful bidder for Virgin Australia

Bain Capital selected as successful bidder for Virgin Australia

Virgin Australia's (ASX: VAH) administrators Deloitte have named Bain Capital as the successful bidder for the company after Cyrus Capital Partners pulled out of the running this morning. Following a comprehensive sale campaign the administrators have today entered into a sale and implementation agreement with Bain Capital. ...

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Retail Food Group sees customers return, but permanent closures inevitable

Retail Food Group sees customers return, but permanent closures inevitable

Retail Food Group (ASX: RFG), the owner of Gloria Jean's Coffees, Brumby's Bakeries, Donut King, Michel's Patisserie and others, has observed an increase of customers returning to its outlets as COVID-19 restrictions ease across most of the country.  However, the pandemic has sped up the permanent closure of a number of i...

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ASIC threatens court action against Smiles Inclusive

ASIC threatens court action against Smiles Inclusive

More than 3.5 months after Smiles Inclusive (ASX: SIL) was suspended from trading over its failure to produce an audited financial report for the December half, Australia's corporate watchdog is taking steps to force the struggling dental outfit to lift its game. If a court order arises at the request of the Australian Secur...

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Qantas completes $1.4 billion placement

Qantas completes $1.4 billion placement

Airline Qantas (ASX: QAN) has successfully completed the $1.4 billion placement tranche of its broader capital raise this morning. The company says it received high levels of interest from both existing institutional shareholders and new investors, with demand to participate in the placement "significantly in excess of the funds that...

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Cyrus Capital Partners pulls out of Virgin Australia bid

Cyrus Capital Partners pulls out of Virgin Australia bid

Investment advisory firm Cyrus Capital Partners has withdrawn its bid to acquire Virgin Australia (ASX: VAH), leaving Bain Capital as the last bidder standing. As reported by the ABC Cyrus says the decision was made after Virgin administrator Deloitte allegedly failed to "meaningfully engage" with Cyrus. The shock move comes...

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GTR's early move to USA uranium puts it ahead of the pack

GTR's early move to USA uranium puts it ahead of the pack

The following article is sponsored content in partnership with Finfeed. Business News Australia does not give financial advice. As investors cotton on to the generally positive movements in the uranium price, the outlook for uranium explorers and producers is also improving. GTi Resources (ASX: GTR) first came to investors' attent...

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Blank check company to lift F45 onto the NASDAQ

Blank check company to lift F45 onto the NASDAQ

A US-based blank check company will take Australia's F45 onto the NASDAQ following the completion of a merger, enabling the fitness company to continue on its international expansion path. F45 will be acquired by Crescent Acquisition Corp (NASDAQ: CRSA), a listed acquisition vehicle created by Crescent Capital Group in March last year...

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Qantas to raise $1.9 billion for COVID-19 recovery, 6,000 staff made redundant

Qantas to raise $1.9 billion for COVID-19 recovery, 6,000 staff made redundant

Airline Qantas (ASX: QAN) will raise $1.9 billion in equity to accelerate recovery as it taxis onto its COVID-19 recovery plan. Qantas' three-year recovery plan includes making 6,000 staff redundant, grounding 100 aircraft for at least a year, and immediately retiring Qantas' six remaining 747s. Of the $1.9 billion, approximat...

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TPG shareholders approve Vodafone merger

TPG shareholders approve Vodafone merger

TPG Telecom (ASX: TPM) shareholders have voted almost unanimously in favour of a merger with Vodafone Hutchison Australia (VHA), with management hopeful ordinary trading of the combined group will start on 14 July. The vote was able to proceed after the Foreign Investment Review Board (FIRB) approved the deal in May, following a...

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